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Alamos closes Ordford acquisition

4th April 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Intermediate gold producer Alamos Gold has completed the previously announced acquisition of TSX-V-listed Ordford Mining.

The Ontario Superior Court of Justice granted the final order on April 2 approving the plan of arrangement pursuant to which the transaction was implemented.

“We are pleased to complete the acquisition of Orford Mining and its highly prospective Qiqavik gold project, located in northern Quebec,” commented president and CEO John McCluskey.

Alamos also acquired interests in several exploration stage critical mineral and gold projects in Quebec, including West Raglan, the Joutel Properties, and Nunavik Lithium.

The Ordford acquisition is consistent with Alamos’ strategy of building out a pipeline of high-quality, long-term projects, in good jurisdictions to complement the group’s near-term organic growth projects, added McCluskey.

Last week, the acquisitive company also announced that it would buy smaller rival Argonaut Gold in an all-stock deal valued at $325-million. The move is poised to create a gold miner with a combined long-term production potential exceeding 900 000 oz/y.

Central to the transaction is Alamos’ acquisition of Argonaut’s Magino mine, which is strategically located adjacent to its own Island Gold mine, in Ontario.

Edited by Creamer Media Reporter

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